Priya withdrew Rs 2,500 at the end of each month. The partnership deed provides for charging the interest on drawings @ 12 $%$ p.a. Calculate interest on Priya’s drawings for the year ending 31st December, 2017

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Solution

Interest on Drawings = 2,500 $\times 12 \times \frac{12}{100} \times \frac{5.5}{12}$ = Rs 1,650

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Priya withdrew Rs 2,500 at the end of each month. The partnership deed provides for charging the interest on drawings @ 12% p.a. Calculate interest on Priya’s drawings for the year ending 31st December, 2017

Interest on Drawings = 2,500 ×12×12100×5.512= Rs 1,650

Priya withdrew Rs 2,500 at the end of each month. The partnership deed provides for charging the interest on drawings @ 12 $%$ p.a. Calculate interest on Priya’s drawings for the year ending 31st December, 2017

Interest on Drawings = 2,500 $\times 12 \times \frac{12}{100} \times \frac{5.5}{12}$ = Rs 1,650